by: Tina Valiedi
Marketing - The First Step In Business Success
Marketing keeps a business running by bringing in new customers and building name recognition. Without a marketing plan, a business is doomed to failure. Don't make the mistake of developing a product or service and then finding the market who will buy it.You can market your business effortless if you find a need and then fill it.
Proper marketing starts with having a product or service that will provide fix for your customers needs. You need to designate your target market that will need what you have to offer. For instance, if you where selling electrical components you would not want to target the plumbing industry. It is also a good idea to incorporate a diverse product line, so anyone who would use your product or service on a minimal basis will be able to purchase from you instead of your competitors. In this case you need to assess what size the need is and how you will be able to best market your product to fill the need.
Two goals in developing your marketing plan. One, determine you can develop a product or service to meet the demand without a huge up front investment. Two, don't promise more than you can reasonably deliver.
Cash flow and marketing should go hand in hand. If you purchase too much merchandise and cannot roll it over quickly you could put a strain on your marketing ideas. Try to prepare for being one step ahead of the customer, not a hundred steps. Too much overhead can lead to disaster before you ever get started.
A fatal flaw many business make in getting the sale, especially eager new business owner, it to give an unrealistic completion time line. This tactic may give you the first time sale but not repeat business. Repeat customers and referrals keep you in business. Allow a cushion of time to finish the job. You never know what problems can happen. Even if you do give a realist timeline and problems still cause the job to run over delivery time, keep in communication with your customer. Most customers understand things happen and if you show a sincerity in solving the issue, you can turn that problem into a lifetime customer.
Over deliver, under promise and focus on knowing about your target market and your customer needs. This approach gives a better and more effective way to market your and gauge your business growth.